Floor Plan Insurance


Definition of "Floor plan insurance"

Coverage for a lender who has accepted property on the floor of a merchant as security for a loan. If the merchandise is damaged or destroyed, the lender is indemnified. The policy is on an all risks basis.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Disintegration

(1) The transformation of a racially integrated neighborhood-bousing pattern into segregated housing ...

Executrix

Woman executor. ...

Collateralized Mortgage Obligation (CMO)

Mortgage-backed, pass-through securities that segregates mortgage pools into short, medium, and long ...

Net Worth

Individual: Total assets less total liabilities less estimated taxes. It is the individual's pers ...

Layering

Combination of several policies with each adding an additional layer or limit of coverage above the ...

Veneer

Outside of a structure covering a lower quality or cheaper surface to make the structure look better ...

Related Real Estate FAQ

What Is A REALTOR®?

A REALTOR® is an agent or agency that belongs to the local or state board of REALTORS® and is affi ...

What Is An Investment Property?

An investment property is a property you purchase with the intension of using it as a rental income ...

What Do I Need To Know About Term Life Insurance?

Provides financial protection for a limited, specified period of time, at a lower cost than permanen ...

What Is A Closing?

The process of finalizing all the dealing associated with the sale and purchase of a home. (Also kno ...

What Is A Counteroffer?

A counteroffer is an offer made by one party that makes changes to the original or latest offer of t ...

What If They No Longer Make My Specific Computer?

The insurance company will replace it with a model as close to it as possible in the current retail ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

How Does The Home Loan Underwriting Process Work? What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? What is Hazard Insurance? 5 U.S. Cities with the Best Public Transportation How To Choose A Realtor

FAQ

What is equity? What is a maintenance fee? What is underwriting? What is a CD? What does Fannie Mae mean?